MORTGAGE RATES REMAIN NEAR RECORD LOW LEVELS

MORTGAGE RATES REMAIN NEAR RECORD LOW LEVELS

June 11th, 2012

The MBS Market closed last week trading down (-37 bps), but closed Monday (+25 bps).    

Overall rates are very similar to the record low rates hit last Friday. 

Over the weekend, Spain agreed on a 125 billion bailout.  Spain is the 4th of 17 countries in the European currency union to need a bail out.  This move pushed stocks down on Monday demonstrating that investors are still very concerned regarding this ongoing crisis.

Some think that Italy may need a bail out next.  Greece will be voting next Sunday to form a new government.  This ongoing chaos in Europe is bad for the stock markets, but good for interest rates.

I feel that these low rates should be available this whole week and don’t see them going up much until there is some improvement in the European debt situation. 

Below are rates available today paying a point or less:

30 year fixed: 3.5% paying .78 point, 3.75% paying 0 points

20 year fixed: 3.375% paying .43 points, 3.5% paying 0 points

15 year fixed: 2.875% paying .7 points, 3.125% paying 0 points

5/1 ARM: 2.375% paying .99 points, 2.75% paying 0 points

7/1 ARM: 2.625% paying .489 point, 2.875% paying 0 points

30 year fixed High Balance Loan: 3.75% paying .82 points, 3.99% paying 0 points

30 year fixed FHA: 3.25% paying .91 points; 3.5% paying 0 points

15 year fixed FHA: 2.75% paying .676 points, 3.125% paying 0 points

30 year fixed VA: 3.25% paying .78 points, 3.5% paying 0 points

 

Today’s Mortgage Interest Rates.  Current Mortgage Interest Rates and APRs for refinancing and purchasing in Arizona, California, and Colorado.  Mortgage Rate Sheets for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinances, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.

MORTGAGE RATES REMAIN NEAR RECORD LOW LEVELS

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